Bitcoin: two different opinions on how much the BTC may cost in 2022
On November 10, Bitcoin, the most expensive cryptocurrency on the cryptocurrency market, reached a historic high of $68,380.
A few days later, its price began to decline, and the drop definitely deepened this week when the cryptocurrency settled, and showed resistance at $48,000.
There are many reasons behind this price stagnation, as well as forecasts for the future about how much Bitcoin may cost next year.
Why does the cost of military-technical cooperation continue to fall?
According to Material Indicators, a research firm that analyzes the cryptocurrency market using algorithms, traders are constantly buying and selling Bitcoin for short-term profits, while whales are only buying.
In short, a whale is an entity that controls a large enough share of Bitcoin to be able to influence its price. According to a study by the National Bureau of Economic Research (NBER), 10,000 investors concentrate the largest number of Bitcoins on the market, and for this reason they are able to control the price of cryptocurrencies.
“During none of the falls that Bitcoin has experienced this year, we have not seen traders and whales buying with real conviction,” the organization explains.
This behavior lowers Bitcoin below $60,000, and forms a bearish trend in the market.
What will happen to the Bitcoin price in 2022
All Bitcoin price forecasts are based on a fundamental and technical study of the cryptocurrency. Therefore, depending on who conducts such an analysis, conclusions change, and forecasts may be incorrect.
In other words, BTC price forecasts are not an exact science, and for this reason, potential investors are advised to conduct their own research and trade according to the risk they can take. And as for capital, they need to invest only what they are ready to lose at any time. You should never invest money that you are not ready to part with.
Given this, Coincodex, a platform that collects information from the crypto ecosystem, reports that 69% of investors are bearish about the future price of Bitcoin.
On the other hand, WalletInvestor, a platform that predicts the future price of cryptocurrencies using machine learning algorithms, reports that in a year Bitcoin could be worth $81,600, so it could be a good opportunity to buy and prepare for the next growth.
Official site — https://coinmarketrate.com/